Breast reconstruction technology company AirXpanders Inc. closed a $10 million Series D funding round to support its tissue expansion devices for breast reconstruction.
The Palo Alto, Calif.-based company plans to use the proceeds to advance investigational device exemptions studies, obtain CE Mark approval in Europe and execute market launches in the U.S., Europe and Australia following clearance of its AeroForm system.
The AeroForm device is a patient-controlled tissue expander that uses carbon dioxide, released by the patient using a wireless remote control unit, to stretch skin and muscles in order to create space for a permanent breast implant.
AirXpanders treated the first patient in its IDE trial just last month.
"We believe that AirXpander’s AeroForm tissue expansion system has the potential to provide hundreds of thousands of women who have a mastectomy a more patient-friendly and potentially faster expansion method than what is currently available in order to prepare them for their permanent breast implant," Dr. Albert Cha, managing director at investment round leader Vivo Ventures said in prepared remarks. "Given the strong initial clinical data, we believe that AeroForm represents the first major advance in breast reconstruction in decades."
Here’s a roundup of other dealflow and investment news:
VisionCare closes Series E expansion and adds to board
VisionCare Ophthalmic Technologies Inc. closed expansion of a Series E financing round led by Agate Medical Investments. Agate’s managing general partner Chanan Schneider joined VisionCare’s team as a board observer. The company also added Pitango Venture Capital’s Dr. David Israeli and Giza Venture Capital’s Dr. Yuval Avni to the board, replacing Pitango’s Bruce Crocker and Giza’s Elka Nir. Read more
PowerVision closes $12.5 million round
Intraocular lens maker PowerVision closed a Series C funding round with $12.5 million, adding Johnson & Johnson Development Corp. to its list of funders. Read more
KeraNetics LLC aims for $7M, with $4.7M raised so far
Regenerative medicine company KeraNetics LLC raised $4.7 million from 26 investors, hoping to land a total of $7 million. Read more